PFE or AZN: Comparing Revenue Growth in 2019

Revenue guidance

On its fourth-quarter earnings conference call, Pfizer (PFE) guided for the strong performances of its key brands Eliquis, Ibrance, Xtandi, and Xeljanz, which will subsequently push up its 2019 revenue to the range of $52.0 billion–$54.0 billion. The company, however, anticipates foreign exchange fluctuations and the generic erosion of certain key brands to have a negative effect on its revenue performance in 2019.

According to the company’s fourth-quarter earnings conference call, in 2018, it reported revenue of $53.65 billion driven by the continued uptake of certain key product franchises as well as biosimilars and vaccines, especially in emerging markets. Pfizer, however, suffered certain generic erosion headwinds as well as a downtrend in the performance of its legacy established business in developed markets. According to the company’s fourth-quarter earnings conference call, its sterile injectables business also suffered in the US market due to ongoing manufacturing supply shortages.

PFE or AZN: Comparing Revenue Growth in 2019

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On its fourth-quarter earnings conference call, AstraZeneca (AZN) guided for YoY (year-over-year) high-single-digit percentage growth in its product sales in 2019.

Wall Street’s projections

Wall Street analysts expect Pfizer’s revenues to be $53.25 billion, $54.14 billion, and $56.53 billion, respectively, in 2019, 2020, and 2021, which implies YoY changes of -0.73%, 1.66%, and 4.41%, respectively.

On the other hand, Wall Street analysts expect AstraZeneca’s revenues to be $23.43 billion, $26.30 billion, and $30.15 billion, respectively, in 2019, 2020, and 2021, implying YoY rises of 6.08%, 12.25%, and 14.60%, respectively.

Pfizer is expected to report higher absolute revenue but lower revenue growth at a compound average growth rate from 2019 to 2021 compared to AstraZeneca.